The PA Education Improvement Tax Credit (EITC) enables businesses to support local
non-profit organizations, such as Child Development, Inc.
In 2001, EITC program overwhelmingly passed the legislature and was signed into law by former Governor Tom Ridge. The business community has overwhelmingly responded the challenge. To date, over 3,600 companies have pledged in excess of $350 million dollars to the programs. The children of Pennsylvania thank you!
A Great Way for Businesses to Direct Their Tax Dollars
The EITC has accomplished what many in Pennsylvania have been advocating for years: to get the business community more involved in education. The EITC enables companies to support local non-profit charities, at minimal cost, instead of sending their tax dollars to Harrisburg. It's that simple.
Businesses authorized to do business in Pennsylvania that are subject to one or more of the following taxes are eligible:
Corporate Net Income Tax
Capital Stock Franchise Tax - Bank & Trust Company Shares Tax
- Title Insurance Companies Shares Tax
- Insurance Premiums Tax
- Mutual Thrift Institution Tax
Subchapter S corporations and other business entities that pay their State business taxes under the personal income tax on PA business income
Tax credits may be applied against the tax liability of businesses for the tax year in which the contribution was made.
For contributions to Pre-Kindergarten Scholarship Organizations, a business may receive a tax credit equal to 100% of the first $10,000 contributed and up to 90% of the remaining amount contributed up to a maximum credit of $150,000 annually.
Why is this important?
With the help of EITC scholarships and contributions from business such as yours, more children may be able to attend a high quality early childhood education preschool. Statistics have shown that children who go to a quality preschool have better social skills, less grade repetition and special education, higher graduation rates, increased earnings, while having lower rates of crime, teen pregnancy, and smoking.
How can this help you?
Besides providing a wonderful service for Schuylkill County children and families—some of whom may be your employees and customers--all EITC contributing companies are advertised on our website with a hotlink to your company’s website. In addition, correspondence with eligible families mentions every company that has made the EITC scholarship opportunity possible.
Where to apply:
DCED Center for Business Financing, Tax Credit Division
4th Floor, Commonwealth Keystone Building
400 North Street, Harrisburg, PA 17120
(717)-787-7120
RA-EITC@state.pa.us
Applications are approved on a first-come-first-served basis by date received and can be downloaded from the PA EITC website or you can download the 2011 application from our website by clicking here.
Applications are due at DCED on July 1,2011
Feel free to call contact DCED directly
or
Lorrie Ogden, Finance Director
Child Development, Inc.
570-544-8959, Ext. 228
logden@childdevelop.org
for more information or to begin the application process today.
~ Please help us invest in the future of our children. ~